Reliance Industries Has Decided To Shut Down Its Nagothane Plant Until August 25.

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Reliance Industries added that product supply would be made from current stock and other manufacturing sites.

Reliance Industries announced on Wednesday that its Nagothane manufacturing facility would be shut down for a week to ensure operational reliability and integrity.

From August 25, the complex is expected to be operational again.

It was said that product supplies would be made from current stock and other manufacturing sites.

“This is to notify you that the Company has shut down its production units in Nagothane, Maharashtra, to ensure operational reliability and integrity.

Customers will continue to get the product through available stocks and diversions from other manufacturing facilities.

“From August 25, 2021, the complex is expected to resume normal operations,” RIL stated in a regulatory statement.

Nagothane is a petrochemical production facility.

It produces Ethylene Oxide, Ethylene Glycol, Linear Low-Density High-Density Polyethylene (LLHDPE), Hexene-1, and other products, as well as a gas-based CPP.

RIL won environmental approval in 2018 for an estimated Rs 2,338 crore expansion and optimization of its petrochemical facility in Nagothane.

Reliance Industries and Saudi Aramco are in advanced talks for a $25 billion merger.

Meanwhile, Saudi Aramco and Reliance Industries are in advanced talks for an all-stock acquisition in the Indian oil-to-telecom giant’s refining and chemical operations.

If Saudi Aramco’sAramco’s plans to purchase a 20% share in Reliance O2C Ltd go through, the deal might be worth $20-25 billion.

The talks have been ongoing for two years but have been pushed back owing to the Covid-19 outbreak and dropping crude oil costs.

A transaction would help Reliance secure a stable supply of crude oil for its massive refineries while also giving the Indian firm a stake in Aramco.

Based on Aramco’sAramco’s current market value of $1.9 trillion, the acquisition would give Reliance a 1% interest in the worlds largest energy business.

Kanaka Yeldutti
Kanaka Yeldutti
Pursuing MA in mass communication at Pondicherry University. An avid writer, Blogger with a keen passion for Journalism. Areas of interest are sociocultural struggles, women-centric issues, economic inequality.

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